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UK: Lloyds calls for business banking probe

By  |  February 10, 2015

The chief executive of Lloyds has called for an upheaval of banks’ relationships with businesses, saying it must be made easier for companies to leave their bank for new providers.

Antonio Horta-Osorio said competition between banks needed to be improved. Mr Horta-Osorio said the industry needs to “take further steps to enhance the banking system so that it properly serves the economy, and not the other way around”.

The UK’s competition regulator is investigating the dominance of the major banks.

 

Full Content: The Telegraph

 

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